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China holds Western countries responsible for Pakistan's economic woes

China holds Western countries responsible for Pakistan's economic woes
March 3, 2023 Web Desk

ISLAMABAD (92 News) - China has held the Western countries responsible for the economic crisis in the country, calling for concerted efforts from all parties to play a constructive role in Pakistan’s economic and social stability.

This was stated by Chinese Ministry for Foreign Affairs Mao Ning on Thursday.

To a question about rollover of Pakistan's US$7 billion debt due by June, including those from China, she said: "China and Pakistan are all-weather strategic and cooperative partners and iron brothers. The two sides have always shared weal and woe together and supported each other. China has been in close economic and financial cooperation with Pakistan and supported its efforts to maintain economic stability, improve lives and achieve self-generated development."

She said that the radical financial and monetary policies of a certain developed country and their serious spillover effects are the primary cause of the financial difficulties experienced by Pakistan and many other developing countries. "The Western-dominated commercial creditors and multilateral financial institutions account for the lion’s share of developing countries’ debt. China calls on concerted efforts from all parties to play a constructive role in Pakistan’s economic and social stability efforts," she added.